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Craigs Summit Presentation

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The document discusses how technology, demographics, regulations, and healthcare reform are rapidly changing the role of independent insurance agents in the senior health insurance market. Specifically, it summarizes how 80 million baby boomers will impact demand, new regulations limit agent interactions with Medicare beneficiaries, and the Affordable Care Act eliminated the open enrollment period. It then outlines various products and services from Ritter Insurance Marketing that can help agents navigate and succeed with these significant changes.

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The Independent Agent’s Rapidly Changing Role in the Senior Health Insurance Market How to Succeed with Massive Changes in Technology, Demographics, Regulation and Health Care Reform. Presented by Craig Ritter, President Ritter Insurance Marketing
Overview How Technology is Changing Communication, Advertising, Marketing and Sales Processes. How 80 Million Baby Boomers will impact the Senior Health Insurance Market. The impact of regulation on how the Independent Agent interacts with prospects. How Health Care Reform has impacted the Medicare Market. Current and Future ways that Ritter can help you to succeed.
Technology Changes Communication Telephone invented in 1876 Voicemail became popular in the 1990’s AOL goes public in 1992 Pagers become popular in the mid 90’s E-Mail becomes widespread in mid to late 90’s Cell Phone usage increases in late 90’s Instant Messaging increases in early 2000’s Google goes public in 2004 Unlimited Texting Plans Appear in 2006 Mobile Data Traffic Surpasses Voice in 2009 Facebook exceeds 500 million members in 2010 Twitter exceeds 100 million Tweets/day in Sept. 2010
Evolution of Internet Internet 1990 – Web pages as Business Cards. Internet 2000 – Web pages as Catalogs Internet 2010 – Web pages as Communication Devices. The Internet creates a data log of text messages. Combines fast communication with massive message sharing.
Implication to Insurance Agents Expectation of more immediate response. Enables More Targeted Marketing. Increases Exposure of Positive and Negative Experience. Easy to Share who you “Like”. Regulations like “Do Not Call” and CMS Outbound Calling Restrictions limit the effectiveness of “Dialing for Dollars”.
The Boomers are Coming! Approximately 10,000 Boomers will turn 65 EVERY DAY for the next 20 years beginning in January of 2011! Between April of 2009 to May of 2010, % of Boomer Internet Users of Social Media has doubled (from 25% to 47%) according to Pew. For ages 65+, Social Media doubled from 13% to 26% of internet users. Facebook is by far the most popular social media website (much higher share than younger ages).
Regulatory Impacts CMS Promulgates More “Rules” to limit Interaction with Medicare Beneficiaries. No E-mailing No Phone Calling Scope of Appointment Form No Telephonic Enrollment Registration of Sales Events Elimination of Marketing at Educational Events One positive rule clarification, independent agents can mention MA/PDP products GENERALLY! (Not considered marketing)
Impact of Health Care Reform Additionally, HCR has eliminated the Open Enrollment Period. Formerly, this was the time from January 1 st – March 31 st where Medicare Beneficiaries had an additional opportunity to make a change. Net Impact is a larger and larger number of beneficiaries will need attention between November 15 th and December 31 st . (October 15 th – December 7 th in 2011)
RitterIM Products and Services How can Ritter Assist you in Navigating these Changes? Lead Generation Lead/Client Management System Staying Informed on Industry Changes Product Selection/Quotes/Comparisons Carrier Appointment Process Certifying and Working with Carriers Training Opportunities Electronic Enrollment – Application Processing Service Requests/Tracking your Issues Commission Management System
Lead Generation Medicareful.com Website to promote a network of local independent agents. Generally, enrollment is closed for AEP. Look for opportunities in January of 2011. Exclusively for agent contracted through Ritter. Insurance Company Co-Op’s Many Insurance Carriers will provide some Co-Op’s and or lead generation for agents. Some Carriers, like Humana, offer Retail opportunities. Turning 65 and Direct mail
Lead/Client Relationship Mgmt Functions in October 4 th Release General Data – Name, Address, Phone Add Notes and attach documents to notes (like a Scope of Appointment). Track current Insurance Products (yours or competitors) Track Medical Info and Conditions Add Follow up Tasks Associated with the Contact Upload Client or Prospect Lists Integration with Quote Engine (more on this later) Functions in late October Release Calculate Estimated Prescription Drug Costs Electronically Enroll Clients
Staying Informed on Industry Changes Content
Product Selection/Quotes/Comparisons Content
Carrier Appointment Process Content
Certifying and Working with Carriers Content
Training Opportunities Content
Electronic Enrollment – Application Processing Content
Service Requests/Tracking your Issues Content
Commission Management System Content

More Related Content

Craigs Summit Presentation

  • 1. The Independent Agent’s Rapidly Changing Role in the Senior Health Insurance Market How to Succeed with Massive Changes in Technology, Demographics, Regulation and Health Care Reform. Presented by Craig Ritter, President Ritter Insurance Marketing
  • 2. Overview How Technology is Changing Communication, Advertising, Marketing and Sales Processes. How 80 Million Baby Boomers will impact the Senior Health Insurance Market. The impact of regulation on how the Independent Agent interacts with prospects. How Health Care Reform has impacted the Medicare Market. Current and Future ways that Ritter can help you to succeed.
  • 3. Technology Changes Communication Telephone invented in 1876 Voicemail became popular in the 1990’s AOL goes public in 1992 Pagers become popular in the mid 90’s E-Mail becomes widespread in mid to late 90’s Cell Phone usage increases in late 90’s Instant Messaging increases in early 2000’s Google goes public in 2004 Unlimited Texting Plans Appear in 2006 Mobile Data Traffic Surpasses Voice in 2009 Facebook exceeds 500 million members in 2010 Twitter exceeds 100 million Tweets/day in Sept. 2010
  • 4. Evolution of Internet Internet 1990 – Web pages as Business Cards. Internet 2000 – Web pages as Catalogs Internet 2010 – Web pages as Communication Devices. The Internet creates a data log of text messages. Combines fast communication with massive message sharing.
  • 5. Implication to Insurance Agents Expectation of more immediate response. Enables More Targeted Marketing. Increases Exposure of Positive and Negative Experience. Easy to Share who you “Like”. Regulations like “Do Not Call” and CMS Outbound Calling Restrictions limit the effectiveness of “Dialing for Dollars”.
  • 6. The Boomers are Coming! Approximately 10,000 Boomers will turn 65 EVERY DAY for the next 20 years beginning in January of 2011! Between April of 2009 to May of 2010, % of Boomer Internet Users of Social Media has doubled (from 25% to 47%) according to Pew. For ages 65+, Social Media doubled from 13% to 26% of internet users. Facebook is by far the most popular social media website (much higher share than younger ages).
  • 7. Regulatory Impacts CMS Promulgates More “Rules” to limit Interaction with Medicare Beneficiaries. No E-mailing No Phone Calling Scope of Appointment Form No Telephonic Enrollment Registration of Sales Events Elimination of Marketing at Educational Events One positive rule clarification, independent agents can mention MA/PDP products GENERALLY! (Not considered marketing)
  • 8. Impact of Health Care Reform Additionally, HCR has eliminated the Open Enrollment Period. Formerly, this was the time from January 1 st – March 31 st where Medicare Beneficiaries had an additional opportunity to make a change. Net Impact is a larger and larger number of beneficiaries will need attention between November 15 th and December 31 st . (October 15 th – December 7 th in 2011)
  • 9. RitterIM Products and Services How can Ritter Assist you in Navigating these Changes? Lead Generation Lead/Client Management System Staying Informed on Industry Changes Product Selection/Quotes/Comparisons Carrier Appointment Process Certifying and Working with Carriers Training Opportunities Electronic Enrollment – Application Processing Service Requests/Tracking your Issues Commission Management System
  • 10. Lead Generation Medicareful.com Website to promote a network of local independent agents. Generally, enrollment is closed for AEP. Look for opportunities in January of 2011. Exclusively for agent contracted through Ritter. Insurance Company Co-Op’s Many Insurance Carriers will provide some Co-Op’s and or lead generation for agents. Some Carriers, like Humana, offer Retail opportunities. Turning 65 and Direct mail
  • 11. Lead/Client Relationship Mgmt Functions in October 4 th Release General Data – Name, Address, Phone Add Notes and attach documents to notes (like a Scope of Appointment). Track current Insurance Products (yours or competitors) Track Medical Info and Conditions Add Follow up Tasks Associated with the Contact Upload Client or Prospect Lists Integration with Quote Engine (more on this later) Functions in late October Release Calculate Estimated Prescription Drug Costs Electronically Enroll Clients
  • 12. Staying Informed on Industry Changes Content
  • 15. Certifying and Working with Carriers Content
  • 17. Electronic Enrollment – Application Processing Content